By Jessica Rousey
Social media has been used by businesses to improve their brand image, and their sales. Often, they join multiple platforms such as Twitter, Facebook, LinkedIn, Google+ and others, in order to market their products and services. However, not a lot of businesses achieve the success they hoped to from their social media marketing efforts. In a study conducted by Manta, about 60% of small businesses were not able to get a significant return on investment (ROI) from their social media marketing. Here are five key reasons why these businesses fail to do so, and what you can do to maximise your own marketing efforts.
1. You do not measure your performance
It is crucial that you have an accurate measure of the performance of your marketing campaign. After all, social media is all about reaching target customers. This is why you should always include in your strategy the review of your campaign performance. There should be certain metrics (often known as Key Performance Indicators, or marketing KPIs) that you choose relevant to your specific campaigns. This can include:
- Clicks to your site
- Conversion rates
- Page or content views
- Interaction and engagement
You should be able to monitor your campaign over time and compare the effectiveness of different platforms.
2. You are not utilising the appropriate platform for your business
Determining the right platform for your business is crucial. Companies often feel that they should focus their resources on Facebook and Twitter because these two have the most members. However, this may not be the right way to decide which social media platform you should funnel all your resources. For example, LinkedIn is often better for corporate businesses as members are there to do business and connect with like-minded individuals. Although your page reach might be smaller, the conversion rates (level of audience engagement and effectiveness) of your campaigns could be significantly higher.
3. You rarely post new content
Posts are how you attract your consumers to your brand. What you put up on your company page is the easiest way for readers to understand your personality, brand, and products better. It is highly recommended that you release content regularly. The amount of content will vary on the platform and style of your campaign. For example, Twitter users could post content several times per day, due to the fast-paced nature of the website, whilst LinkedIn posts could be as little as once or twice per week.
It is also important that you curate your posts well. There should be a plan for your social media marketing on what types of photos, blog posts, testimonials and other content pieces are shared to your page. Furthermore, remember to monitor the analytics of your posts. Make sure that you adjust once you notice that your strategy is not working, but note that developing traction can often take time.
4. You don't have enough interaction with your followers
Social media is a fantastic marketing tool, because it allows you to be able to interact with your customers on a personal level unachievable across other platforms. It is the fastest way to address any concerns they may have, regarding your sector, business, or specific product offering. Hence, it is vital that part of your strategy should be allocating time every day to personally respond to your audience. According to the Social Habit, around 42% of customers expect their queries to be answered within an hour!
5. You're not allotting enough time to managing your account
Social media experts are Forbes highly recommend social media managers to spend about 32 hours on their social accounts. It is extremely difficult for startup businesses to effectively penetrate multiple platforms immediately. You should consider prioritising one platform to dominate against your competitors, then consider testing a second social media channel once the original is secured, if you have the resources. However, if the first is working effectively, there may be no need to divide your efforts across another platform.
Since not all businesses can afford to hire a social media manager, as a startup, your first port of call is to determine the specific platform that gives you the best results and ROI. According to Manta Research, on average, small businesses only allocate a maximum of 3 hours to checking their social media accounts.
Getting results in social media is not instant, it takes a lot of work, time and careful strategy to achieve the audience you desire. Startup businesses should take the time to understand the different social media platforms, and which ones are best suited to their particular niche.
About the author:
Jessica Rousey understands the essence of making excellent content that suits the needs of every business, especially when it comes to online marketing. She can galvanise your marketing campaign with the content she makes, and then incorporate BuyRealMarketing services.